Nasdaq Proposes Diversity Standard for Boards

Nasdaq Proposes Diversity Standard for Boards

The Nasdaq Stock Exchange, which lists mostly high-tech companies, has proposed new listing rules aimed at increasing diversity in board composition.

If approved by the Securities and Exchange Commission, all companies on the Nasdaq will be required to publicly submit “consistent and transparent diversity statistics” to their board of directors.

The board of directors must have at least one woman and one member of the “under-represented minority” or LGBTQ +. Otherwise, companies will have to explain why this happened.

“The goal of the Nasdaq is to foster inclusive growth and prosperity,” said CEO Adena Friedman.

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